According to the latest monthly Reuters Tankan survey, released on Monday, the mood amongst the Japanese manufacturing firms remained pessimistic for the 14th consecutive month, reflecting slow recovery from the coronavirus pandemic induced economic blow.
Key findings
“Manufacturers’ morale mirrored frail sales in key sectors such as auto and the construction industry.
The Reuters Tankan sentiment index for manufacturers inched up to minus 29 in September from minus 33 in the previous month, still deeply pessimistic even though it marked the least gloomiest level in six months.
The service-sector index stood at minus 18, up from minus 23 in August, but sentiment among wholesalers, transport and utilities weighed on broad business confidence.
Manufacturers’ sentiment was seen recovering further to minus 19 in December, while that of service-sector firms was expected to tick up to minus 17.”
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